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HomeMy WebLinkAboutExhibit AMiami Parking Authority (Department of Off -Street Parking) Proposed Operating Budget Fiscal Year 2021-22 (Submitted to the City of Miami Commission For Approval) (Approved by the Off -Street Board of Directors June 30, 2021) 1111A3,11 PARK LNG AOTHORITV Schedule of Revenue and Expenses Proposed FY 2022 Operating Budget FY 2020 FY 2021 FY 2022 Requested Budget 2022 Requested Budget 2022 Approved Proposed vs. vs. Actual Budget Budget FY 2020 Actual Budget 2021 FY 2020 Actual Budget 2021 Operating Revenue $ $ $ Increase/(Decrease) Increase/(Decrease) Off -Street Facilities 3,830,060 4,424,627 4,015,988 185,928 (408,639) 4.85 (9.24) Parking Lots 6,444,261 6,777,439 7,665,104 1,220,843 887,665 18.94 13.10 On -Street 24,111,373 23,498,090 31,707,810 7,596,437 8,209,720 31.51 34.94 Management Fees 1,389,408 1,009,467 1,351,012 (38,396) 341,545 (2.76) 33.83 Other 753,619 533,000 935,000 181,381 402,000 24.07 75.42 Total Operating Revenue 36,528,721 36,242,623 45,674,914 9,146,193 9,432,291 25.04 26.03 Operating Expenses Salaries, Wages & Fringe Benefits 10,144,691 9,669,729 10,342,646 197,955 672,917 1.95 6.96 Repairs, Maintenance, Cleaning & Landscape 1,953,721 1,752,443 1,778,443 (175,278) 26,000 (8.97) 1.48 Security 1,313,729 1,663,636 1,505,065 191,336 (158,571) 14.56 (9.53) Utilities 492,689 456,170 579,876 87,187 123,706 17.70 27.12 Insurance 734,533 757,119 899,223 164,690 142,104 22.42 18.77 Assessment Expenses 491,243 513,631 563,631 72,388 50,000 14.74 9.73 Rental - Building/Land 488,154 735,049 48,004 (440, 150) (687,045) (90.17) (93.47) Revenue Sharing 587,168 869,162 1,552,807 965,639 683,645 164.46 78.66 Parking Meter Parts & Installation 80,383 26,000 33,500 (46,883) 7,500 (58.32) 28.85 Legal and Professional 1,246,399 851,835 1,070,098 (176,301) 218,263 (14.14) 25.62 Bank Charges 2,335,628 2,682,393 3,037,223 701,595 354,830 30.04 13.23 Supplies & Miscellaneous 400,364 281,450 259,450 (140,914) (22,000) (35.20) (7.82) Other Expenses 223,927 220,428 216,328 (7,599) (4,100) (3.39) (1.86) Advertising & Promotion 294,209 443,500 443,500 149,291 50.74 Total Operating Expenses 20,786,838 20,922,545 22,329,794 1,542,956 1,407,249 7.42 6.73 Operating Results Before Depr & Amort 15,741,883 15,320,078 23,345,120 7,603,237 8,025,042 48.30 52.38 Depreciation & Amortization (3,281,424) (3,573,659) (3,900,000) (618,576) (326,341) 18.85 9.13 Operating Results 12,460,459 11,746,419 19,445,120 6,984,661 7,698,701 56.05 65.54 Non -Operating Revenues (Expenses): Interest Income 339,993 160,000 160,000 (179,993) - (52.94) - Lower of Cost of Market - Investments 75,210 - Gain (Loss) on Disposal Property 38,714 - (38,714) - (100.00) #DIV/0! Interest Expenses (2,454,200) (2,392,176) (1,620,054) 834,146 772,122 (33.99) (32.28) Other Losses 1,248,461 Excess Revenue Distribution to City (3,000,000) - 3,000,000 - (100.00) #DIV/0! Budgeted Reserves #DIV/0! #DIV/0! Total Non -Operating (3,751,822) (2,232,176) (1,460,054) 2,291,768 772,122 (61.08) (34.59) Net Revenue In Excess of Expenses 8,708,637 9,514,243 17,985,066 9,276,429 8,470,823 106.52 89.03 4ll PARKRVG.-1 UTHORfTF Schedule of Revenue and Expenses Proposed FY 2022 Operating Budget FY 2020 FY 2021 FY 2022 Requested Budget 2022 Requested Budget 2022 Approved Proposed vs. vs. Actual Budget Budget FY 2020 Actual Budget 2021 FY 2020 Actual Budget 2021 $ $ $ Increase/(Decrease) Inerease/(Decrease) Operating Revenue Off -Street Facilities 3,830,060 4,424,627 4,015,988 185,928 (408,639) 4.85 (9.24) Parking Lots 6,444,261 6,777,439 7,665,104 1,220,843 887,665 18.94 13.10 On -Street 24,111,373 23,498,090 31,707,810 7,596,437 8,209,720 31.51 34.94 Management Fees 1,389,408 1,009,467 1,351,012 (38,396) 341,545 (2.76) 33.83 Other 753,619 533,000 935,000 181,381 402,000 24.07 75.42 Total Operating Revenue 36,528,721 36,242,623 45,674,914 9,146,193 9,432,291 25.04 26.03 Operating Expenses Salaries Waaes & Fringe Benefits Salaries -Regular 7,229,306 7,465,800 7,865,818 636,512 400,018 8.80 5.36 Salaries - Overtime 210,656 (210,656) (100.00) Salaries - Sick& Vacation 550,586 439,879 464,061 (86,525) 24,182 (15.72) 5.50 Social Security 503,553 523,963 549,432 45,879 25,469 9.11 4.86 Health Insurance 480,465 501,244 682,955 202,490 181,711 42.14 36.25 Retirement 963,146 569,765 601,892 (361,254) 32,127 (37.51) 5.64 Benefits- (Auto, LTD, STD) 184,250 169,078 178,488 (5,762) 9,410 (3.13) 5.57 Tuition 16,980 - (16,980) (100.00) Miscellaneous Pay 5,749 - (5,749) (100.00) - 10,144,691 9,669,729 10,342,646 197,955 672,917 1.95 6.96 Repairs, Maintenance Cleaning & Landscape Maintenance -Property 406,890 229,000 486,000 79,110 257,000 19.44 112.23 Maintenance- Landscaping 360,256 178,740 75,060 (285,196) (103,680) (79.16) (58.01) Maintenance - Elevators 863 44,000 54,000 53,137 10,000 6,157.24 22.73 Maintenance- A/C 34,593 33,500 30,000 (4,593) (3,500) (13.28) (10.45) Maintenance -Computers 92,051 28,500 97,000 4,949 68,500 5.38 240.35 Maintenance- Garage Equipment 170,172 222,810 241,102 70,930 18,292 41.68 8.21 Maintenance -Alarms 12,670 4,500 16,000 3,330 11,500 26.28 255.56 Maintenance - TV Surveillance 37,363 46,500 35,200 (2,163) (11,300) (5.79) (24.30) Repairs -Equipment 186,591 166,000 68,060 (118,531) (97,940) (63.52) (59.00) Motor Pool 111,054 104,500 100,560 (10,494) (3,940) (9.45) (3.77) Cleaning & Housekeeping Supplies 192,900 477,873 418,186 225,286 (59,687) 116.79 (12.49) Expendable Tools - - Clothing 53,144 68,520 27,345 (25,799) (41,175) (48.55) (60.09) Signs 172,989 74,500 78,900 (94,089) 4,400 (54.39) 5.91 Small Equipment 115,336 67,500 45,030 (70,306) (22,470) (60.96) (33.29) Maintenance - Other 6,485 6,000 (485) 6,000 (7.48) Cleaning 364 6,000 (364) (6,000) (100.00) (100.00) 1,953,721 1,752,443 1,778,443 (175,278) 26,000 (8.97) 1.48 Security Security Armored Car Services 1,293,231. 1,644,136 1,487,065 193,834 (157,071) 14.99 (9.55) 20,498 19,500 18,000 (2,498) (1,500) (12.19) (7.69) 1,313,729 1,663,636 1,505,065 191,336 (158,571) 14.56 (9.53) Utilities Telephone 205,223 182,300 262,756 57,533 80,456 28.03 44.13 Light & Power 202,150 242,790 257,590 55,440 14,800 27.43 6.10 Water 85,316 31,080 59,530 (25,786) 28,450 (30.22) 91.54 492,689 456,170 579,876 87,187 123,706 17.70 27.12 Insurance Property & Gen Liability Insurance Workers Compensation Insurance 692,254 578,086 700,000 7,746 121,914 1.12 21.09 42,279 179,033 199,223 156,944 20,190 371,21 11.28 734,533 757,119 899,223 164,690 142,104 22.42 18.77 Assessment Expenses Assessment Expenses - Repairs & Maintenance 152,987 3,986 3,986 (149,001) Assessment Expenses - Utilities 8,039 5,408 5,408 (2,631) Assessment Expenses - Office Supplies 4,287 41,567 41,567 37,280 Assessment Expenses - Management Fee 41,550 117,670 117,670 76,120 Assessment Expenses - Insurance 195,096 200,000 200,000 4,904 Assessment Expenses - Security 89,284 145,000 195,000 105,716 Rental - Buildin¢/Land 491,243 513,631 563,631 Rental - Building/Land 488,154 50,000 (97.39) (32.73) 869.61 183.20 2.51 118.40 34.48 72,388 50,000 14.74 9.73 735,049 48,004 (440,150) (687,045) (90.17) (93 47) IAhMI PARtiINCAC/THORJTY Schedule of Revenue and Expenses Proposed FY 2022 Operating Budget FY 2020 FY 2021 FY 2022 Requested Budget 2022 Requested Budget 2022 Approved Proposed vs. vs. Actual Budget Budget FY 2020 Actual Budget 2021 FY 2020 Actual Budget 2021 $ $ $ Increase/(Decrease) Increase/(Decrease) Revenue Sharing Revenue Sharing 587,168 869,162 1,552,807 965,639 683,645 164.46 78.66 Parking Meter Parts & Installation Equipment Rental Parking Meter Parts & Installation Legal and Professional Property Surveys, Platting Legal Services Trustee Fees Audit Fees Other Consultants 76,345 18,000 28,500 (47,845) 10,500 (62.67) 58.33 4,038 8,000 5,000 962 (3,000) 23,82 (37.50) 80,383 26,000 33,500 (46,883) 7,500 (58.32) 28.85 8,653 10,000 10,000 1,347 - 15.57 120,722 127,630 127,630 6,908 - 5.72 15,000 15,000 15,000 - 135,912 163,500 163,500 27,588 - 20.30 981,112 535,705 753,968 (227,144) 218,263 (23.15) 40.74 1,246,399 851,835 1,070,098 (176,301) 218,263 (14.14) 25.62 Bank Charges Bank Charges 2,335,628 2,682,393 3,037,223 701,595 354,830 30.04 13.23 Supplies & Miscellaneous Postage& Courier Services 6,031 6,700 5,700 (331) (1,000) (5.49) (14.93) Printing 126,429 99,750 89,250 (37,179) (10,500) (29.41) (10,53) Office Supplies 14,397 26,500 22,500 8,103 (4,000) 56.28 (15.09) Office Equipment 36,737 15,000 23,500 (13,237) 8,500 (36.03) 56.67 Computer Supplies 20,500 5,500 5,500 (15,000) - (73.17) Computer Software 216,770 113,000 113,000 (103,770) (47,87) 400,364 281,450 259,450 (140,914) (22,000) (35.20) (7.82) Other Expenses Property Taxes 50,528 50,528 50,528 - - Licenses & Permits 46,159 29,950 25,950 (20,209) (4,000) (43.78) (13.36) Miscellaneous 16,881 14,600 15,600 (1,281) 1,000 (7.59) 6.85 Entertainment 111 (111) (100.00) Travel 10,616 19,000 19,000 8,384 78.98 Training 6,751 35,000 34,500 27,749 (500) 411.04 (1.43) Meetings and Conventions 43,613 52,350 51,250 7,637 (1,100) 17.51 (2.10) Cashier-Overage/(Shortage) 7 - (7) (100.00) Parking Refunds Uncollectibte Accounts - - Publications Membership Dues 28,100 19,000 19,500 (8,600) 500 (30.60) 2.63 Claims Settlement 15,000 - - (15,000) (100.00) Bad Debt Expense 4,373 - - (4,373) - (100.00) - Penalties&Interest 1,788 - (1,788) (100.00) - 223,927 220,428 216,328 (7,599) (4,100) (3.39) (1.86) Advertising & Promotion Promotional 1,205 52,500 52,500 51,295 - 4,256.85 Public Relations 266,339 240,000 240,000 (26,339) - (9.89) Advertising 26,665 151,000 151,000 124,335 - 466.29 294,209 443,500 443,500 149,291 - 50.74 Total Operating Expenses 20,786,838 20,922,545 22,329,794 1,542,956 1,407,249 7.42 6.73 Operating Results Before Depr & Amor Depreciation & Amortization Operating Results Non -Operating Revenues (Expenses): Interest Income Lower of Cost of Market - Investments Gain (Loss) on Disposal Property Interest Expenses Other Losses Excess Revenue Distribution to City Budgeted Reserves Total Non -Operating 15,741,883 (3,281,424) 15,320,078 23,345,120 (3,573,659) (3,900,000) 7,603,237 8,025,042 48.30 52.38 (618,576) (326,341) 18.85 9.13 12,460,459 11,746,419 19,445,120 6,984,661 7,698,701 56.05 65.54 339,993 160,000 160,000 (179,993) - (52.94) 75,210 - 38,7.14 (38,714) (100.00) (2,454,200) (2,392,176) (1,620,054) 834,146 772,122 (33.99) 1,298,461 (3,000,000) - - 3,000,000 - (100.00) (3,751,822) (2,232,176) (1,460,054) 3,615,439 772,122 (32.28) (61.08) (34.59) Net Revenue In Eu'cess of Expenses 8,708,637 9,514,243 17,985,066 10,6011,100 8,470,823 106,52 89.03